If you have been conscientious during the pre-closing period the actual close of escrow is a straightforward process. The close of escrow consists of signing and filing of all documents.
What is escrow and how does it work?
Escrow is a process performed by a third party to ensure all terms and conditions of the transaction have been met; all documentation has been reviewed, signed, exchanged and flied; and funds have been disbursed to appropriate parties. The purpose of escrow is to simplify the closing, ensure an objective third party is available and the transaction occurs legally and expeditiously. At the opening of escrow the escrow company will assign an escrow officer to your transaction.
You may want to call your escrow officer prior to closing to ensure he or she has all of the pertinent information and documents. Establishing this relationship may help prevent a snag along the way.
How does the closing process work?
The close of escrow consists of three steps: reviewing, signing and exchanging documents; filing of documents and the disbursement of funds.
Royal LePage Mission
3595 114 Ave SE #110
Calgary AB T2Z 3X2